No exit from the euro-rescuing trap?

This paper attempts a normative assessment of the input and output-oriented legitimacy of the present euro-rescuing regime on the basis of policy analyses examining the causes of present crises, the available policy options, and the impact of the policies actually chosen. Concluding that the regime lacks input-oriented legitimacy and that its claim to output-oriented legitimacy is ambivalent at best, the paper explores potential – majoritarian or unilateral – exits from the present institutional constellation that is characterized by the synthesis of a non-democratic expertocracy and an extremely asymmetric intergovernmental bargaining system.Die hier präsentierte normative Bewertung der input- und outputorientierten Legitimität des gegenwärtigen Euro-Rettungs-Regimes stützt sich auf empirisch fundierte Aussagen zu den Ursachen der Eurokrise, den prinzipiell verfügbaren Politik-Optionen und den Wirkungen der gewählten Politik. Im Ergebnis wird eine inputorientierte Legitimation verneint, während die outputorientierte Bewertung höchst ambivalent erscheint. Im Schlussteil untersucht der Text mögliche – majoritäre oder einseitige – Auswege aus einer institutionellen Konstellation, die ein nicht demokratisches Expertenregime mit inem extrem asymmetrischen intergouvernementalen Verhandlungsregime verbindet

Educational change, inertia and potential futures

The point of departure of the paper is that there are profound social, cultural, technological, scientific and environmental changes which occur at most local but also at global levels of the modern world. From these will stem huge challenges in all spheres of life. These demand changes in education, not necessarily in the system or how it operates, but perhaps in its aims, and most certainly in its content. Knowledge that was once powerful to understand the world, to develop as a person and address the challenges of life, should be replaced with new knowledge which may often be outside the traditional disciplines. Moreover, a host of new skills may be relevant for the world of tomorrow. There are, however, many obstacles to change, both reasonable and unreasonable ones. The thrust of the paper is to provide a discussion of nine categories of inertia or constraints that are seen to stifle change, in particular, as it relates to the content of education. The categories are discussed under the headings of general conservativism, system stability, standards, fuzziness of new ideas, the strength of old ideas, vested interests, teacher education, lack of space and motivation for initiative, and lack of consequence of no change. Added to this there are serious logistic problems for those who want to foster change. It is argued that very little change in content will be seen if these inertial constraints are not recognised. Assuming there is a will to change, the institutional infrastructures that should facilitate sustained change must be scutinised and it must be ensured that the teachers, i.e. the professionals that operate the system, are involved.Peer Reviewe

The evolution of monetary policy (goals and targets) in Western Europe

This chapter charts the evolution of monetary policy in the United Kingdom, France, and Germany since the late nineteenth century. It shows how the monetary authorities in the three largest European economies transitioned from the classical gold standard through the gold exchange standard and the Bretton Woods regime to European Monetary Union, while dealing with war, reconstruction, and inflation along the way. It outlines the changing goals of monetary policy and the targets, instruments, and devices deployed to achieve those goals. In doing so, it highlights the constraints within which policy makers operated under different monetary regimes